“Now is the best time to sell.” You have probably heard a realtor telling you that before – at any given time. But hear me out. Right now IS a great time to sell your home. Below are five reasons why listing your home for sale this fall is a good decision.
Buyers Are Looking
The most recent foot traffic numbers show that there are significantly more prospective buyers looking at homes right now than last year! “Foot traffic” is the number of people physically looking for homes right now. These buyers are ready, willing and able to purchase… and are in the market right now!
Take advantage of the buyer activity currently in the market.
There Is Less Competition Now
In Pinellas County, inventory is low right now. Housing supply is still under the 6 months’ supply that is needed for a normal housing market. This means, there are not enough homes for sale to satisfy the number of buyers in that market. And you know what is happening when there is more demand than supply. Prices are going up. However, this situation will not last forever. Additional inventory is about to come to market.
There is a pent-up desire for many homeowners to move as they were unable to sell their home over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market in the near future.
Also, new construction of single-family homes is projected to continue to increase over the next two years and reach historic levels by 2017, as builders regain confidence in the market. New construction sales have outpaced last years totals every month this year. One major reason being the lack of inventory of existing homes for sale in many markets.
The Process of Selling a Home Will Be Quicker
One of the biggest challenges of the housing market in recent times has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. There are new mortgage regulations that will become effective later this year that may cause closing times to lengthen.
There Will Never Be a Better Time to Move-Up
If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 18.1% from now to 2019. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with an interest rate near 4% right now. Rates are projected to increase by about three quarters of a percent by the end of 2015.
It’s Time to Move On with Your Life
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market. Perhaps, the time has come for you and your family to move on and start living the life you desire.
Are you looking to sell your home? If so, give me a call and I will assess what your home will be selling for.
Here is something I want to share with you: I have created a in-depth report covering everything you need to know and understand when selling your house. This report is free to you, please click this link to download it.